Vol. Vol. 18 18 No. No. 27 34
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Wednesday, January Wednesday, March13, 2, 2016 2016
DAY OUT: Jeparit siblings Josh, 8, and Emily, 6, Schultz enjoyed a ride on mini tractors during a visit to the Wimmera Machinery Field Days yesterday. There will be plenty of activities and attractions for children at the Longerenong site today as the field days celebrates ‘family day’. For more about the event, see page 9. Picture: KELLY LAIRD
WIM150 mine sold BY DEAN LAWSON
T
he immediate future of a major sand-mining project near Horsham is up in the air with the company behind the project selling the asset to a Hong Kong group.
Australian Zircon has advised its shareholders that it has entered into a ‘terms sheet’ to sell its 80 percent interest in the WIM150 mineral-sand mine. The sale will go ahead if shareholders approve it, joint-venture partner Orient Zirconic Resources Australia
agrees to the switch and the new owners gain necessary approvals. The buyers have already paid a $2-million deposit for the WIM150 project designed to tap into the vast reserves of mineral-sand deposits in the Drung South-St Helens Plains area near Taylors Lake. News of the sale comes with Australian Zircon entering the final stages of an environment effects statement for the multi million-dollar project, having already completed bankable feasibility and other studies. The project also needed about
IN THIS ISSUE
$500-million in investment capital to start production. Project development manager Emma Vogel said she was awaiting further details but revealed changes had started in earnest at the start of last year. “This has been a restructuring process and been ongoing for some time,” she said. “What we’re seeing now is the conclusion of the process. “When the new owner has had time to make further assessments, no doubt they will be advising the community of what it proposes.” Ms Vogel said it was a case of
‘wait and see’ on what the new owners planned, adding that she expected to know more by the end the month. Project analysts have spoken about the economic potential of establishing a mine and separation plant near Horsham.
Long life
Projections have been that the mine might have a life-span up to 60 years and create hundreds of jobs for more than 25 years. The proposal has also attracted dedicated protest by a St Helens Plains landowner group, fearing the impact of
large-scale mining on farming land and regional water supply. A dwindling international market for mining resources, based heavily on Chinese demand, might influence how the new owners approach WIM150 and whether they extend a waiting period before exploring new opportunities. The original stimulus for Australian Zircon developing the mine was rapid Chinese urbanisation and demand for ceramic products such as tiles, which had in turn led to a demand for the mineral zircon. The Chinese demand has
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since diminished, although zircon and titanium-based minerals remain important international commodities. The Hong Kong owners have various options. They could decide to simply sit on the project and do nothing in the short term or finish the environment effects statement before reassessing the market. The change in ownership might also change a project brief in how to separate, handle, process and ship the raw product for export.